CareDx, Inc. (NASDAQ:CDNA) Given Consensus Recommendation of “Hold” by Analysts

CareDx, Inc. (NASDAQ:CDNA) has been given an average recommendation of “Hold” by the eight analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $28.00.

A number of brokerages have recently issued reports on CDNA. Craig Hallum downgraded CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Tuesday, January 6th. BTIG Research upped their price target on CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday. Wells Fargo & Company upped their price target on CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings downgraded CareDx from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, February 27th.

CareDx Trading Up 3.3%

CareDx stock opened at $21.50 on Friday. The business’s fifty day simple moving average is $18.52 and its two-hundred day simple moving average is $18.29. CareDx has a 12 month low of $10.96 and a 12 month high of $23.24. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -134.38 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last released its earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The business had revenue of $117.70 million for the quarter, compared to the consensus estimate of $102.03 million. During the same period in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. On average, equities research analysts predict that CareDx will post 0.22 EPS for the current year.

Insider Activity

In other news, CEO John Walter Hanna, Jr. sold 10,282 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $21.12, for a total transaction of $217,155.84. Following the transaction, the chief executive officer directly owned 676,475 shares of the company’s stock, valued at $14,287,152. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new stake in CareDx during the fourth quarter valued at $25,000. FNY Investment Advisers LLC purchased a new stake in CareDx during the third quarter valued at $31,000. State of Alaska Department of Revenue purchased a new stake in CareDx during the third quarter valued at $43,000. Meeder Asset Management Inc. purchased a new stake in CareDx during the fourth quarter valued at $79,000. Finally, Quantbot Technologies LP purchased a new stake in CareDx during the third quarter valued at $89,000.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non?invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post?transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor?derived cell?free DNA assay used primarily in kidney transplant monitoring.